Cannon Falls, MN housing market
Homes typically sell in 9 days, a little above asking.
Home values, sales, trends and how Cannon Falls compares with the towns next door — updated as new data is published.
Cannon Falls at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Home prices up 36% in 5 years
The federal house price index for the ZIP code around Cannon Falls rose 36% over the past 5 years, about the same as across Minnesota. Prices were about flat last year. Carrying the Census median home value forward with that index puts the typical Cannon Falls home at roughly $384,000 today.
Show as a table
| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | −0.2% | +114% | +127% |
| 2024 | +0.8% | +114% | +120% |
| 2023 | +7.7% | +113% | +113% |
| 2022 | +16% | +97% | +104% |
| 2021 | +8.5% | +70% | +82% |
| 2020 | +2.5% | +57% | +66% |
| 2019 | +4.4% | +53% | +61% |
| 2018 | +6.9% | +47% | +55% |
| 2017 | +6.6% | +37% | +46% |
| 2016 | +5.3% | +29% | +38% |
| 2015 | +2.6% | +22% | +32% |
| 2014 | +6.6% | +19% | +28% |
| 2013 | +4% | +12% | +21% |
| 2012 | −1.5% | +7.4% | +16% |
| 2011 | −7.7% | +9.1% | +18% |
| 2010 | −6.6% | +18% | +25% |
| 2009 | −8.9% | +27% | +33% |
| 2008 | −1.7% | +39% | +42% |
| 2007 | −3.7% | +41% | +48% |
| 2006 | +4.1% | +47% | +49% |
| 2005 | +5.3% | +41% | +45% |
| 2004 | +12% | +34% | +34% |
| 2003 | +3.7% | +20% | +23% |
| 2002 | +7.9% | +16% | +18% |
| 2001 | +7.1% | +7.1% | +9.2% |
| 2000 | — | — | — |
How Cannon Falls ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 55009, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
No new homes permitted in 2013
No permits for new homes were issued in Cannon Falls in 2013. The last year with any was 2009 (3 new homes).
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| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 3 | 3 | 0 | $552,000 |
| 2008 | 3 | 3 | 0 | $429,000 |
| 2007 | 9 | 9 | 0 | $1.8 million |
| 2006 | 16 | 16 | 0 | $3.3 million |
| 2005 | 82 | 17 | 65 | $11.7 million |
| 2004 | 22 | 18 | 4 | $3.6 million |
| 2003 | 49 | 49 | 0 | $6.2 million |
| 2002 | 21 | 21 | 0 | $3.1 million |
| 2001 | 8 | 8 | 0 | $1.2 million |
| 2000 | 9 | 6 | 3 | $1.3 million |
Cannon Falls's permit office didn't report to the Census in 2013, so the 2013 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Cannon Falls and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Cannon Falls | — | −0.2%† | $1,520 | — | $84,097 |
| Cannon Falls | $287K | +1.6% | $1,520 | — | $97,950 |
| Stanton | — | −0.2%† | $1,570 | — | $129,539 |
| Randolph | $469K | +5.4% | $1,780 | 1 | $154,904 |
| Douglas | — | +0.1%† | $1,520 | 2 | $101,667 |
| Hampton | $357K | +3.4% | $1,650 | 1 | $117,250 |
† FHFA price index change, where Zillow has no home value for the town.
3.1 years of income
The typical Cannon Falls home costs about 3.1 years of the town's median household income, less than across Minnesota (3.9 years).
How Cannon Falls ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,520
HUD's Fair Market Rent for a two-bedroom in Cannon Falls is $1,520 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Cannon Falls pay a median of $1,161, so moving in tends to cost more than staying put. A two-bedroom takes about 22% of the town's median household income.
Studio $1,100 · 4 bedrooms $2,270
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55009; Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.